How to Combine Retirement Planning with Legacy Planning

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 21 September 2021

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our topic on this episode of the Ready for Retirement podcast is about combining retirement planning with legacy planning. Questions answered: How do I combine retirement planning goals with my legacy planning goals? What are the best strategies when it comes to exploring retirement planning and legacy planning together? What is the best approach for my individual situation? Are you ready to start focusing on the things that truly matter when it comes to your financial future? We’re on...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.6	It all starts right here on Ready for Retirement. for retirement.
0:29.4	Hi, everyone, and welcome back to another episode of Ready for Retirement.
0:30.7	I'm your host, James Cannell.
0:33.1	Before we jump into today, one more reminder.
0:37.0	I've been talking about it the last few episodes, but our YouTube channel is live and not just live.
0:37.6	It's been live for a while, but actually has some videos being posted to it, at least one per week,
0:42.4	as well as another audio version of this podcast here that is posted directly to YouTube.
0:48.4	So if you are enjoying this resource and if you would like more resources, then check out our YouTube page. It is under Root Financial Partners, R-O-O-T, root financial partners. It's the name of the financial planning company I run. And that is where you can find more content on YouTube. So that's that. Now back to the podcast. Today, what we're going to be doing is we're going to be going to be going through a listener question. And I actually got this question on another podcast as on another podcast. Today what we're going to be doing is we're going to be going through a listener
1:10.8	question. And I actually got this question on another podcast as on another podcast that I have.
1:15.9	And I thought it was a great question to also answer here. So I'm going to pull that question in.
1:21.0	So here's the question. The question says, I managed my mom's finances. She's 70 years old.
1:26.1	And while she has not yet drawn down her IRAs,
1:28.4	which are worth $2.8 million, I keep about 2.5 years worth of cash for her in those accounts
1:33.9	and otherwise aim for 60% stocks in those portfolios. Do you have recommendations about when to
1:39.8	rebalance? Given that I won't be rebalancing every day, do you have a range you'd recommend for
1:44.6	rebalancing for someone aiming to have 60% of their portfolio in stocks? Good question. So we know
1:51.3	that rebalancing is important. The question is, how often do we rebalance? Is there some
1:56.7	time frame in which we should be setting reminders or doing something to rebalance
2:01.9	accounts.
2:02.7	Well, historically, this is kind of exactly the way it was done.
	...

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